Dundee Precious Metals Inc

Published : October 08th, 2015

Dundee Precious Metals Announces Third Quarter Production Results and Provides Notice of Third Quarter 2015 Financial Results

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Dundee Precious Metals Announces Third Quarter Production Results and Provides Notice of Third Quarter 2015 Financial Results

TORONTO, ONTARIO--(Marketwired - Oct. 8, 2015) - Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT.A) ('DPM' or 'the Company') announced its mine and smelter production results for the three and nine months ended September 30, 2015 and confirmed the timing of the release of third quarter operating and financial results, together with the related conference call and webcast.

On a consolidated basis, ore milled, gold, copper, zinc and silver production and complex concentrate smelted at Tsumeb in the first nine months of 2015 were in line with the 2015 guidance, which is unchanged from guidance originally provided on February 12, 2015.

Production Highlights

Third quarter mine and metals production at the Chelopech and Kapan mines and complex concentrate smelted at the Tsumeb smelter are provided below.

Chelopech Kapan Tsumeb Consolidated Year 2015
Consolidated
Guidance
(1)
Q3
2015
YTD
2015
Q3
2015
YTD
2015
Q3
2015
YTD
2015
Q3
2015
YTD
2015
Ore milled ('000s tonnes) 512 1,536 109 320 - - 621 1,856 2,300 - 2,600
Metals contained in copper and zinc concentrates produced
Gold ('000s ounces) 29.7 85.4 6.8 18.6 - - 36.5 104.0 130 - 150
Copper (million pounds) 10.3 28.3 0.8 2.0 - - 11.1 30.3 41.7 - 46.4
Zinc (million pounds) - - 3.3 9.2 - - 3.3 9.2 8.8 - 11.8
Silver ('000s ounces) 65.6 177.5 126.6 341.6 - - 192.2 519.1 575 - 720
Complex Concentrate smelted ('000s tonnes) - - - - 43.5 140.3 43.5 140.3 190 - 220
Payable gold in pyrite concentrate sold ('000s ounces) 12.0 28.3 - - - - 12.0 28.3 33 - 36
(1) As disclosed in Management's Discussion and Analysis ('MD&A') for the three and six months ended June 30, 2015.

Chelopech copper production in the third quarter met expectations. Current copper grades and recoveries are expected to remain unchanged in the fourth quarter. Gold production in the quarter benefited from higher grades and recoveries in both copper and pyrite concentrates. Gold recovery to pyrite concentrate continued to benefit from optimization of the pyrite flotation circuit. Gold and copper production at Chelopech is expected to finish the year in line with guidance.

At Kapan, gold production increased by 10% over the second quarter due to improved grades resulting in gold production that meets 2015 guidance. With continued focus on improving standards, these improved gold grades are expected to continue and support annual production that meets guidance for the year.

At Tsumeb, smelting rates were in line with 2015 guidance, however an additional Ausmelt shutdown was initiated in September, resulting in reduced quarterly concentrate treatment and annual production that is expected to be in the lower end of its production guidance. Following a 22 day outage, in which the refractory lining was replaced, the smelter was restarted on October 4th. The current Ausmelt lining is expected to run though to June 2016 with a single outage planned for mid-year 2016 which is intended to introduce additional operational controls in order to extend the life of the refractory lining beyond 12 months.

The hot commissioning of the acid plant was completed in August 2015, as planned. Acid plant ramp up and production during the quarter was in line with expectations, with a total of 19,287 tonnes of sulphuric acid produced in the quarter and the commencement of commercial operations effective October 1, 2015.

The Krumovgrad approval process continues to advance, albeit at a slower pace than planned. Although the Executive Forestry Agency provided preliminary approval to re-classify the project area as industrial land in late July, the Krumovgrad Municipality has not yet issued the draft Detailed Development Plan ('DDP'), which is the next step in the approval process. The Company anticipates the draft DDP will be issued in the fourth quarter of 2015, and is now targeting the second quarter of 2016 for receipt of the construction permit, followed by commencement of construction in the second half of 2016.

The Company's third quarter 2015 operating and financial results are expected to be released after market close on November 4, 2015. The press release, MD&A and consolidated financial statements will be posted on SEDAR at www.sedar.com and on the Company's website at www.dundeeprecious.com.

The Company will hold a call and webcast to discuss its Third Quarter results on Thursday, November 5, 2015 at 9:00 am EST. The call will be hosted by Rick Howes, President and Chief Executive Officer, who will be joined by Hume Kyle, Executive Vice President and Chief Financial Officer, together with other members of the executive management team. The call will be accessible via a live webcast and by telephone.

Third Quarter 2015 Call and Webcast (Listen/View only)
Date: Thursday, November 5, 2015
Time: 9:00 am EST
Webcast: www.gowebcasting.com/6943
Canada and USA Toll Free: 1-866-225-0198
Outside Canada or USA: 1-416-340-2218
Replay: 1-905-694-9451or 1-800-408-3053
Replay Passcode: 3078366

About Dundee Precious Metals

Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. The Company's principal operating assets include the Chelopech operation, which produces a copper concentrate containing gold and silver, located east of Sofia, Bulgaria; the Kapan operation, which produces a copper concentrate and a zinc concentrate, both containing gold and silver, located in southern Armenia; and the Tsumeb smelter, a concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold properties located in Bulgaria, Serbia, and northern Canada, including the Krumovgrad project and interests held through its 50.1% owned subsidiary, Avala Resources Ltd., and its 12.1% interest in Sabina Gold & Silver Corp.

Cautionary Note Regarding Forward Looking Statements

This press release contains 'forward looking statements' that involve a number of risks and uncertainties. Forward looking statements include, but are not limited to, statements with respect to the future price of gold, copper, zinc and silver, the estimation of mineral reserves and resources, the realization of such mineral estimates, the timing and amount of estimated future production and output, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, the potential or anticipated outcome of title disputes or claims and timing and possible outcome of pending litigation. Often, but not always, forward looking statements can be identified by the use of words such as 'plans', 'expects', or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'does not anticipate', or 'believes', or variations of such words and phrases or that state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward looking statements are based on the opinions and estimates of management as of the date such statements are made and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the forward looking statements.
Such factors include, among others: the actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, copper, zinc and silver; possible variations in ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, uncertainties inherent with conducting business in foreign jurisdictions where corruption, civil unrest, political instability and uncertainties with the rule of law may impact the Company's activities; fluctuations in metal prices; unanticipated title disputes; claims or litigation; limitation on insurance coverage; as well as those risk factors discussed or referred to in the Company's MD&A under the heading 'Risks and Uncertainties' and under the heading 'Cautionary Note Regarding Forward Looking Statements' which include further details on material assumptions used to develop such forward looking statements and material risk factors that could cause actual results to differ materially from forward looking statements, and other documents (including without limitation the Company's 2014 AIF) filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR at www.sedar.com. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by securities laws, the Company undertakes no obligation to update forward looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward looking statements.

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Armenia | Bulgaria | Canada | Namibia | Serbia | All
Gold and Silver Prices for these countries : Armenia | Bulgaria | Canada | Namibia | Serbia | All

Dundee Precious Metals Inc

PRODUCER
CODE : DPM.TO
ISIN : CA2652692096
CUSIP : 265269-20-9
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Dundee Precious Metals is a zinc and gold producing company based in Canada.

Dundee Precious Metals produces zinc, gold, copper and silver in Armenia, develops copper, gold and silver in Bulgaria.

Its main asset in production is KAPAN in Armenia, its main assets in development are CHELOPECH and KRUMOVGRAD in Bulgaria and its main exploration property is SURDULICA in Bulgaria.

Dundee Precious Metals is listed in Canada. Its market capitalisation is CA$ 1.4 billions as of today (US$ 1.1 billions, € 946.7 millions).

Its stock quote reached its highest recent level on December 17, 2010 at CA$ 9.99, and its lowest recent point on January 22, 2016 at CA$ 0.84.

Dundee Precious Metals has 178 440 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Dundee Precious Metals Inc
2/27/2019Exyn introduces robots into Dundee Precious Metals' gold min...
4/13/2010Discovers New Gold Deposits in Bulgaria
Financings of Dundee Precious Metals Inc
10/9/2013Issued Shares and Warrants of Sabina Gold & Silver Corp. on ...
6/11/2013Announces Result of Early Warrant Exercise Program
Nominations of Dundee Precious Metals Inc
3/21/2013DPM Board Announces Executive Transition and Senior Officer ...
11/14/2012DPM Board Announces Senior Appointment
9/19/2012Eira Thomas Joins Dundee Precious Metals' Board of Directors
Financials of Dundee Precious Metals Inc
10/15/2013NOTICE: DPM 2013 Third Quarter Financial Results
8/1/2013Announces 2013 Second Quarter Results
7/10/2013NOTICE: DPM 2013 Second Quarter Financial Results
5/9/2013Announces 2013 First Quarter Results
4/17/2013NOTICE: DPM 2013 First Quarter Financial Results
2/15/2013Announces 2012 Fourth Quarter and Annual Results and 2013 Gu...
1/24/2013NOTICE: DPM Fourth Quarter and Year End 2012 Results
11/7/2012Announces 2012 Third Quarter Results
10/18/2012NOTICE: Dundee Precious Metals 2012 Third Quarter Results
8/1/2012Announces 2012 Second Quarter Results and Updated 2012 Guida...
7/9/2012NOTICE: DPM 2012 Second Quarter Results
5/8/2012DPM First Quarter 2012 Financial Results
10/14/2011NOTICE: DPM Third Quarter 2011 Results
7/11/2011NOTICE: DPM Second Quarter 2011 Results
4/27/2011Notice: DPM Annual General Meeting and 2011 First Quarter Re...
2/23/2011DPM Reports Fourth Quarter 2010
Project news of Dundee Precious Metals Inc
9/16/2013s 2013 Production Guidance
5/16/2013(Chelopech)Confirms Fundamentals Unchanged; Chelopech Mine Operating at...
9/10/2012(Chelopech)DPM Files Technical Report on Chelopech Pyrite Recovery Proj...
1/13/2012(Krumovgrad)Files Technical Report on Krumovgrad Gold Project
11/24/2011(Krumovgrad)Bulgarian Government Approves EIA for DPM's Krumovgrad Gold ...
2/23/2011(Chelopech)DPM Reports Fourth Quarter 2010 and Year-End Results and Upd...
Corporate news of Dundee Precious Metals Inc
7/28/2016Dundee Precious Metals Announces 2016 Second Quarter Results
7/25/2016Dundee Precious Metals Announces Power Blackout in Namibia R...
7/11/2016DPM Announces Closing of C$54.65 Million Bought Deal Financi...
7/7/2016Dundee Precious Metals Announces Second Quarter Production R...
6/20/2016DPM Announces C$50 Million Bought Deal Financing
12/21/2015Dundee Precious Metals Announces 15% Increase to Measured an...
12/21/2015AVALA RESOURCES STARTS DRILLING ON THE LENOVAC PROJECT
11/30/2015AVALA RESOURCES ANNOUNCES EARN-IN AND JOINT VENTURE AGREEMEN...
11/19/2015Dundee Precious Metals Announces Approval of Main Detailed D...
11/5/2015Dundee Precious Metals Announces 2015 Third Quarter Results
11/4/2015Dundee Precious Metals Announces Changes to Board of Directo...
10/8/2015Dundee Precious Metals Announces Third Quarter Production Re...
9/15/2015Dundee Precious Metals Announces Maintenance of the Tsumeb S...
7/30/2015Dundee Precious Metals Announces 2015 Second Quarter Results
7/9/2015Dundee Precious Metals Announces Second Quarter Production R...
4/14/2015Dundee Precious Metals Announces First Quarter Production Re...
4/14/2015Announces First Quarter Production Results and Provides Noti...
3/31/2015Dundee Precious Metals Announces Reserve and Resource Update...
3/31/2015Announces Reserve and Resource Update for 2015
3/18/2015Dundee Precious Metals Announces Commencement of Annual Tsum...
3/18/2015Announces Commencement of Annual Tsumeb Smelter Shutdown
2/26/2015AVALA RESOURCES PROVIDES AN EXPLORATION UPDATE
2/18/2015Tags to Riches: Mining Company Tracks Production With Sensor...
2/13/2015Dundee Precious Metals Announces 2014 Fourth Quarter and Ann...
2/13/2015Dundee Precious Metals Announces 2014 Fourth Quarter and Ann...
1/22/2015NOTICE: Dundee Precious Metals 2014 Fourth Quarter and Year ...
1/14/2015(Chelopech)Announces Record Fourth Quarter Production at Chelopech and ...
1/14/2015Dundee Precious Metals Announces Record Fourth Quarter Produ...
11/6/2014Dundee Precious Metals Announces 2014 Third Quarter Results
11/5/2014Dundee Precious Metals Announces 2014 Third Quarter Results
10/16/2014NOTICE: Dundee Precious Metals 2014 Third Quarter Results
10/16/2014NOTICE: Dundee Precious Metals 2014 Third Quarter Results
10/8/2014Dundee Precious Metals Announces a Favourable Preliminary Ec...
10/8/2014Dundee Precious Metals Provides Third Quarter 2014 Productio...
10/3/2014Dundee Precious Metals Acquires Shares and Warrants of Avala...
7/30/2014Dundee Precious Metals Announces 2014 Second Quarter Results
7/14/2014NOTICE: DPM 2014 Second Quarter Results
7/10/2014Dundee Precious Metals Announces Krumovgrad Municipal Counci...
7/10/2014Dundee Precious Metals Announces Krumovgrad Municipal Counci...
6/26/2014Dundee Precious Metals Increases Revolving Credit Facility b...
5/20/2014Dundee Precious Metals Strengthens Senior Management Team
8/29/2013Announces First Underground Mineral Resource Estimate for th...
7/24/2012Reports on Progress of Acid Plant at Smelter in Namibia
4/30/2012Receives First Contact from Namibian Government on Tsumeb Sm...
4/23/2012DPM Exercises Warrants of Dunav Resources Ltd.
2/16/2012DPM Announces 2011 Deno Gold Open Pit Project and Undergroun...
1/26/2012(Krumovgrad)Bulgarian Court Dismisses Appeal of DPM's Krumovgrad Mining ...
11/30/2011(Krumovgrad)DPM: New Krumovgrad Feasibility Study Confirms Low Cash Cost...
9/15/2011Improves Safety and Operational Efficiency With AeroScout Re...
9/2/2011Dunav Resources and Dundee Precious Metals Complete Transact...
8/23/2011DPM to Acquire Shares and Warrants of Dunav Resources Ltd. o...
5/10/2011(Chelopech)DPM and Chelopech Mining Raise Final US$14.5 Million of Chel...
3/23/2011DPM Exercises Warrants of Avala Resources Ltd.
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (DPM.TO)
7.95-2.21%
TORONTO
CA$ 7.95
09/16 15:46 -0.180
-2.21%
Prev close Open
8.13 7.88
Low High
7.77 8.01
Year l/h YTD var.
7.19 -  9.82 -13.11%
52 week l/h 52 week var.
7.19 -  10.60 -16.67%
Volume 1 month var.
319,657 3.38%
24hGold TrendPower© : -11
Produces Copper - Gold - Silver - Zinc
Develops Copper - Gold - Silver
Explores for Molybdenum
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2021-13.11%9.957.22
202058.30%9.9610.03
201963.74%6.663.44
201817.67%3.782.56
201733.33%3.702.13
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 6.26-3.54%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.61+1.16%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.05+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 1.16-1.69%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 1.65-2.37%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05-9.09%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.86-3.02%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 9.14-4.64%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.51-3.77%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20-2.38%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.88-3.68%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 30.41+0.26%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :